1 www.ssijmar.in

SHIV SHAKTI

International Journal of in Multidisciplinary and

Academic Research (SSIJMAR)

Vol. 4, No. 5, October 2015 (ISSN 2278 – 5973)

An Analysis of Operating Costs of star Hotel in Pune: An empirical study.

Prof. Dr. Ms.Vidya Vilas Kadam

Asst. Professor, Maharashtra State Institute of Hotel Management Pune. Contact no.-

9823071682, email-kadamv123@yahoo.co.in; vidyakadam179@gmail.com

Prof. Dr. Ms. Vijaya Vilas Kadam

Asst. Professor, S.P. college, Maharashtra, Pune. Contact no.-9823033166 email –

vijayakdm6@gmail.com.

Impact Factor = 3.133 (Scientific Journal Impact Factor Value for 2012 by Inno Space Scientific

Journal Impact Factor)

Global Impact Factor (2013)= 0.326 (By GIF)

Indexing:

mailto:vidyakadam179@gmail.comhttp://globalimpactfactor.com/shivshakti-international-journal-in-multidisciplinary-academic-research-ssijmar

2 www.ssijmar.in

Abstract:

Travel and tourism industry in India has flourished in the recent years. Despite challenges of

economic recession, the industry has survived and has momentous growth. There are many

factors that can lead the industry to retain this rate of growth. In this study, a comprehensive

attempt is made to examine the operational cost of 5 star, 3 star and local hotels in order to check

its impact on the profit of the hotels specific to Pune.

The study is done by conducting a survey and gathering details of different components of the

costs as well as demographic details of the staff such as age group were gathered. It was

categorized, tabulated and the findings are presented in percentages. It concludes that the cost

fluctuates because of change in operating costs, fall in currency rates, sales, market situations

and that local hotels are less aware of costing though international and some national chains are

well acquainted with it.

(Key words-Operational cost, Currency rates, Sales, Economics Recession, & Rate of growth)

Introduction

At present, the global hospitality industry is under the threat of global economic downturn.

Nevertheless, the Indian hospitality industry is in bouyant mood and Indian economy is still the

second largest growing economy. Travel and Tourism happens to be the second highest foreign

exchange earner for India. There is high expectancy of significant increase in domestic tourists

as well as foreign tourist arrivals (FTAs) in India, in 2012 and the years ahead. This is promising

for the Indian hospitality sector. According to ICRA, the importance and stability the domestic

traveller imparts to Indian hotels industry remains intact. In the backdrop of expected growth in

tourist arrivals, many international and domestic hotel companies are going for planned

expansion programme in India. The chief development and investment officer, Asia Pacific,

Gaurav Bhushan asserts, “There is hardly any paucity of investors looking to invest in the Indian

hospitality sector. Many investors are very earnest to make forays into the Indian hospitality

segment” (p40).

Chennai, Hyderabad, Bengaluru, and Pune are some of the cities that the investors are looking

forward to invest. Many hoteliers are tapping on the huge opportunity for the hospitality sector in

the tier II and tier III cities of the country as the cost development of properties in major cities

are becoming exorbitant. It is expected that hospitality properties in India will be more

stringently tested against one another particularly on guest experience, location and value for

money.

Despite these challenges, overall, the outlook for the Indian hospitality sector in 2012 and also in

the years ahead remains postive. As long as India is able to maintain a healthy economic rate the

excess demand would continually absorb new supplies of hotel rooms.

3 www.ssijmar.in

This has given a need to control operating cost in this sector

Review of literature

As Cost Control in Hotel Industry is an ongoing area of research, there have been different kinds

of investigations into operating costs and hotel management and how to control cost without

compromising on the quality of service to the customers. There are theoretical investigations and

empirical studies on the cost control strategies used by different hotels. Researchers have

attempted to investigate different methods and approaches used for effective operational cost

control. Here, we shall see a review of literature on cost theory of economics and how hotel

management has incorporated it in controlling their expenses.

In the line of this research, Heerkens describes the cost and budget in his study, Cost

Management in Organizations. He explains the term “cost” and how it is significant for every

industry. Similarly, he states that forming a budget is equally necessary. A budget is the

quantified representation of a company‟s proposed plan of action. It can include financial as well

as nonfinancial components. Developed both directly and indirectly by management, budgets

typically focus on the future. In many companies, this future perspective frequently is subdivided

into elements of short-term planning budget (typically a 1-year horizon), and long-term planning

budget The process of budgeting forms the basis of cost management and is one of the most

widely used tools used in the planning and controlling of any company‟s future. One of the most

powerful aspects of the entire budgeting process comes from the way in which it serves to focus

the attention of management directly on the future of the company (typically a 3- to 5-year

horizon).

This explanation would function as a background to understand whether the sample hotel has

formed any budget and how it controls the cost or what effect it has on the hotel‟s cost

management.

In the article, Keeping Control When Hotel Costs Soar, Julie Barker explains three strategies that

would help a company to contain travel costs in the face of “hyper-inflation.” She explains that it

is necessary to Negotiate Rates. According to AmEx, firms can reduce 18% of average of the

corporate rate by making deals with specific properties and agreeing to direct travelers to use

4 www.ssijmar.in

these preferred hotels. It can be done by e-listing of preferred hotels that can attract travelers by

including a map of how easy the hotel is to find and a list of amenities at the property. Another

strategy suggested here is to arm individual travelers with knowledge of the available hotels and

their rates. They need to check if what they are offered is the lowest rate available. The third

strategy is to put technology to use. A program like BTS or Business Travel Solutions can enable

the traveler to find out the most cost-effective rates and fares. This device also helps managers to

look at completed travel costs, market share distributed among suppliers and assessing the merits

of travel policies.

It is generally accepted that the revenue management culture in India is still in a developing stage

compared with more mature markets like US and Europe. While there are real differences in best

practice when it comes to hotel revenue management, it is fair to say that hoteliers in India could

look to benchmark their own revenue strategies against the more developed revenue cultures.

Having clear, accurate and objective data and forecast are crucialfor strategic revenue

management and the complexity and extend of analysis and decision required can only be

provided by an automated revenue management system. It provides the hotel‟s revenue,

management team with a view to the true volume and value of demand to come, enabling the

revenue manager to book the right business at the right time and at the right price.

In another article, Controlling the Cost of Comfort, the author illustrates with the help of a hotel

that how it maintained comfort conditions at the level which reflects its Five-star status by

installing a Trend building management system to run its air-conditioning plant. He explained

the significance and important features of the system. Moreover, the system, in its first year of

installation reduced the hotel‟s energy bills by 28,000. It was first commissioned in 1988. It was

also found that the system‟s accurate and stable control of space and temperatures in the rooms

and other areas of hotel has put an end to the problems of overheating and overcooling.

This is a significant study as the findings can help in determining whether hotels today used such

systems and how the costs could be controlled due to it.

In his article, “Breakeven occupancy for a hotel operation,” B. S. Wijeysinghe shares his

experience of working in the hotel industry and suggests that there should be a method for

5 www.ssijmar.in

calculating breakeven room occupancy which provides accurate calculations together with a

system of efficiency management He also noted that if a hotel closes its room operation, it

cannot be classified as a hotel and other related sales will cease. With the help of actual analysis

and observation of hotels, the author finds that if there are no sales, there will be no cost of sales,

direct wages or direct expenses. Further, he explained that the breakeven occupancy is an

important way to educate line management to understand the magic that a number of rooms must

be sold each day to break even at a certain income per room. The hotel operation will therefore

contribute towards non-hotel costs.

Taking a step further, David Stipanuk persuades that simple conservation action in addition to

affordable energy-management technologies should be the first steps taken in order to reduce

energy usage and costs. In his article, Energy Management in 2001 and beyond, he reviews

hotels in the United States and explains how there was an increase in the cost of electricity

consumption. In the light of this expense, he urges that hotels should invest in energy-

conservation practices. With the help of good management and “wise use of technology” such

investments could be beneficial in controlling costs. Energy-management efforts are usually less

risky and more cost effective than efforts involving on-site generation. He thus persuades the

hotel management to use such measures that help in conserve energy and reduce costs.

In addition to the previous research, Alexander, Matt provides steps to ensure hotels meet their

laundry needs and are able to cut down on their costs, in the article, The cost is in the wash. He

gives pointers such as setting a budget, tracking production, utility, textile replacement cost,

tallying labor, identifying suppliers, tracking costs of washroom chemicals and quantifying

distribution costs. These are some of the measures that, according to Matt, would help hotel staff

and management to get a true picture of laundry needs and can help them meet the customer‟s

needs without wasting extra costs on unused or non-required laundry.

In his study, Costing Staff Turnover In Hospitality Service Organisations Conrad Lashley

explains that managers are faced with added direct costs associated with the replacement of

former employees. The author examines and costs out the levels of staff turnover at unit, area,

organizational and sector levels. He found it surprising that few firms make managers

accountable for reducing staff turnover levels though the volume of staff turnover and the high

6 www.ssijmar.in

extra costs involved. In addition, Lashley found that Direct costs are easier to measure while the

indirect costs are the problem to measure, as they tend to be „soft issues‟ such as, managers

opportunity cost, service disruption, wastage while training new recruits, customer

dissatisfaction during this period or complete loss of customers. It is possible to have an

organization with high levels of staff turnover but a low total cost because the units are smaller

and there are fewer employees. Thereby, such measures can be examined and implemented in

order to control cost. Thus, this is a significant study.

“Measuring the cost of quality in a hotel restaurant operation” by Ramdeen Collin is another

important study that examines the cost of quality of a hotel using the Performance Appraisal and

Failure model also known as the Crosby model

Need for control

The term „control‟ means the activity of establishing standards of performance,

evaluating actual performance against these standards and taking corrective actions to

accomplish organizational objectives. „Management control‟ on the other hand, is broadly

concerned with the attainment of goals and implementation of strategies. Thus, management

control system is a set of interrelated communication structures that facilitates the process of

information for the purpose of assisting the managers in coordinating the activities and attaining

the objectives of the organization. The control system is essential where the employees do not

have a clear idea of what is expected from them or where despite knowledge the employees fail

to perform as per the expectations of the management.

Further, Cybernetics is a study of the entire field of control and communication theory,

which involves: determining the area of control, establishing standards, measuring performance,

comparing performance against standards, rewarding performance or taking corrective action.

Experts classify the management controls based on object of control (action control and result

control), the extent of formalization (informal and formal control), the time of implementation of

controls (feedback control or anticipatory control). Hotels, as a service industry, utilize these

7 www.ssijmar.in

tools of management control system in order to attain the objectives or vision of the company.

Managers everywhere make decisions based on accurate and timely information related

to the internal and external environment of their organizations. While gathering external

information depends on the quality of the overall state of the economy (accounting for

transparency, administration, reliability, etc.) in which a firm and its competitors operate,

managing internal information flow varies from one company to another. Regardless of its

type, every internal reporting system of every firm depends on accounting channels of

reporting, namely on managerial accounting. The efficiency of such a system reflects on the

soundness of business decisions made by the firm‟s executives and is measured by the

performance targets of the firm. Managerial Accounting, which includes Cost-based

Management, Budgeting and Budgetary Control, is concerned with the estimation of

expenses and investments that a firm is willing to make in order to achieve its business goals,

improve control procedures and foster monitoring of its financial status. Using the right

costing system (Full Absorption Costing, Marginal Costing, Activity-based Costing - ABC,

© University of the Aegean. ISSN: 1790-8418

Aims & Objectives Of The Study

In order to streamline the present study, related to the Hotel industry in Pune, the following

objectives have been formed:

1. To study the existing cost components of sample hotels.

2. To analyze various sample hotels that has control their operating cost effectively.

Research Hypothesis

It is a statement that the researchers wish to explore and test or to examine. In

keeping with this, the researchers have developed following statements of hypotheses to be

tested with the help of this study.

1. The sample hotels have high operating cost.

8 www.ssijmar.in

2. The sample hotels have been successful in achieving effective operational cost

control.

Research methodology

In the study, for purposes of simplification, hotels have been categorized into domestic

chain, international chain, and independently owned-managed hotels. The sample selected

relative to the total population is shown in the table no -01

Brand of hotel No. of samples Percentage of

the sample

Total population

of hotels

Percentage of the

total population

International 15 39 % 16 28 %

Domestic 23 61 % 40 72 %

Total 38 100 % 56 100 %

Sample relative to population by Age is shown in table no. 2

Age of hotels (in years) Number of hotels Percentage of the samples

Below 10 28 74 %

11-20 06 16 %

21-30 02 5 %

Above 31 02 5 %

Unknown -- --

Total 38 100 %

Characteristics of respondent hotels by number of rooms is shown in the following table no.3

Number of rooms Number of hotels

Below 100 18

101 to 200 10

201 to 300 04

301 to 400 --

9 www.ssijmar.in

Above 400 01

Total 33

A characteristic of respondent hotels by ownership is shown in the table no. 4 below.

Type of ownership Number of sample hotels Percentage of samples

Private 36 95 %

Public 02 5 %

A characteristic of respondent hotels by rating or class is shown in the following table no.5

Star rating Number of

hotels

Percentage Domestic International

5star/ upper-class 12 31.5 % 03 09

4 star/ midrange 14 37 % 09 05

3 star/ budget class 12 31.5 % 11 01

Total 38 -- -- --

Result and Discussion

In order to prove that sample hotels have high operating cost and some sample hotels have been

successful in achieving effective operational cost control, the researchers collected data through

financial statements of the sample hotels, survey report of HVS international, questionnaires (to

the supervisors and other staff), and interviews of the managerial level personnel. This data was

scrutinized, classified, examined and compiled in a manner suitable to the study. As every

sample hotel arranged its financial data in a different manner and under different heads, it was

difficult to compare and analyze them. Thus, to maintain uniformity and to make the data usable,

the heads or classification of the expenses done by the public limited company was used as a

standard.

10 www.ssijmar.in

Further, the operating heads also differed from one sample to another. With this regards,

the operating heads as revealed in the HVS international (the HVS international was examined

carefully) were assumed in the study.

After collection, classification, and arrangement of the collected data, the data was

compiled sample-wise, revenue-wise, cost-wise, and profit-wise. It was studied in suitability to

prove the hypotheses. Let us now look at the testing of hypotheses in detail.

Hypothesis 1: The sample hotels have high operating cost.

This hypothesis is proven completely. The financial data was studied carefully, as

mentioned earlier, and the expenses were examined and calculated. This revealed the percentage

of expenses of the sample hotels. The table number 6 given below shows the percentage

operating cost and undistributed cost of the sample hotels.

Sample hotels Operating cost %

of total cost

Undistributed cost

% of total cost

Sample 1 64 36

Sample 2 68 32

Sample 3 76 24

Sample 4 73 27

Sample 5 71 29

Sample 6 69 31

Sample 7 63 37

Sample 8 80 20

Sample 9 87 13

Sample 10 73 27

Sample 11 62 38

Sample 12 80 20

Sample 13 83 17

Sample 14 65 35

Sample 15 64 36

Sample 16 61 39

11 www.ssijmar.in

Sample 17 64 36

Sample 18 88 12

Sample 19 69 31

Sample 20 67 33

Sample 21 72 28

Sample 22 67 33

Sample 23 81 19

Sample 24 71 29

Sample 25 85 15

Sample 26 82 18

Total percentage of the sample

hotels having high operating cost

compared to undistributed cost

100%

Each of the samples indicates that the operating cost is larger than undistributed cost. Based on

the above table one can conclude that all sample hotels have high operating cost in comparison to

the undistributed cost. Thus, the first hypothesis is proven.

Hypothesis 2:The sample hotels have been successful in achieving effective operational cost

control.

This hypothesis is proven partially and is explained in three stages or point of views. This

hypothesis is proven partially because 54% of the sample hotels are not successful in controlling

their operational cost. This conclusion is arrived at by the researcher through observation of the

data. A) The table no. 07given below presents the percentile representation about control level of

the operational cost of 26 sample hotels.

Sample hotels Very effective Effective Less effective Total

Number of hotels 8 4 14 26

31% 15% 54% 100

12 www.ssijmar.in

It is shown, here, that 54% of hotels are unsuccessful in achieving effective cost control. 31% of

the sample hotels are controlling their cost very effectively, while 15% are doing effectively.

b) Next, while proving this hypothesis, the samples are classified as domestic (19 hotels)

and international chain of hotels (07 hotels). The data regarding the operating costs is classified

as very effective, effective and less effective for suitability to the interpretation. Further, the

ranges of percentages (of the control of the operating cost) under heads are based on the detailed

reading of the HVS international (survey report). The heads very effective means that the

operating cost of the hotel is between 50 % and 52% of sales. Effective means that the operating

cost of the hotel is between 52 % and 54 % of sales, while less effective stands for hotels that

have operating cost above 54 %. Here, the table no. 8reveals whether the hotels are able to

control their operating cost (a percentile representation of the effectiveness).

Table no. 08

Sr.

no.

Hotel chain Operating cost

Very effective Effective Less effective

1 DOMESTIC (19 Hotels i.e.

73%)

21% 16% 63%

i.e. 4 hotels i.e. 3 hotels i.e. 12 hotels

2 INTERNATIONAL 07 Hotels

i.e. 27%)

57% 14% 29%

i.e. 4 hotels i.e. 1 hotel i.e. 2 hotels

21% of the sample hotels of the domestic chains control their operating cost very

effectively, while 16% hotels control it effectively, and 63% of hotels are less effective in

controlling their operating cost. 57% of the sample hotels of the international chains control their

operating cost very effectively, while 14% hotels control it effectively, and 29% of hotels are

less effective in controlling their operating cost. In accordance with the above table, 63% of the

domestic hotels are unable to control their cost, thus, they need to focus more on undertaking

control measures with regards to operating cost. On the other hand, merely, 29% of the

international hotels require effective control. This shows that the domestic hotels need to be

more costs sensitive to give a competitive edge in comparison with the international ones.

13 www.ssijmar.in

c) The same information is given from a different point of view in the next table no.09

.Here, the figures essential in proving the hypothesis are classified according to the star ratings of

the sample hotels i.e. five star, four star, and three star. This clarifies the picture grade-wise. The

control level is indicated as very high, average or okay, and low.

Table no. 09

Ratings of the hotels

(26 hotels)

Very effective Effective Less effective

upper scale \five star

(6 hotels)

33% 17% 50%

Middle scale \ Four

star (12 hotels)

50% 8% 42%

Budgeted \

Three star (8 hotels)

00% 25% 75%

Only 33% of the Upper-scale or five star sample hotels prove very effective control of

operating cost, 17% are effective and 50% are less effective in controlling their operating cost.

50% of four star hotels have very effective control while only 8% of hotels are effective in

controlling operating cost, and 42% of the hotels are less effective. In case of three star hotels,

none of the sample hotels fall in very effective range of controlling operating cost. Whereas,

25% of hotels are effective and 75% are less effective in controlling their operating cost.

Thus, in case of star rating, 50% of five star hotels can control operating cost, 58% of

four star and 25% of three star hotels are efficient in controlling operating cost. From another

point of view, international chain hotels are more successful in controlling their operating cost

(71%) as compared to the domestic chain hotels (table no. 08). Only 37% the domestic chain

hotels can control operating costs.

Therefore, from the above data, one can conclude that the five-star hotels need to work

on controlling operating cost. Secondly, it has been observed during the study that the four star

and three star hotels, in order to survive in the market, provide facilities which are not mandatory

14 www.ssijmar.in

for them. This could be one of the reasons that increase their operating cost. „Moreover‟,

according to HVS international survey report, „the minor operating departments are becoming

loss generating departments in lower categories of hotels. Extra facilities negatively impact the

revenue generation from these departments, while the hotels continue to incur expenses from

these departments, the increasing operating and manpower costs present an opportunity for

hotels to opt for outsourcing certain operations, such as laundry, housekeeping ad even F&B‟.

HVS, (2013).

Findings-

1. Most of the hotels, international and national chains, have uniformity in data

presentation, and the cost heads were put correctly under right section. But during the

observation of the local hotels, the researcher found it difficult to extract the information

from their P& L statement. This shows that they lack the knowledge of costing.

2. The cost is found fluctuating constantly. The cost fluctuates because of change in

operating costs, fall in currency rates, sales, market situations, etc.

3. It was revealed that the 5 star hotels have on average 56 to 57%, 4 star 54.15% and 3 star

61.37% of operating cost.

4. Out of the samples under study 100% hotels have high distributive cost as compared to

undistributed cost.

5. In operating cost, most of the hotels have employee cost at the higher side as compared to

raw material and power.

6. It is seen that 54% of the sample hotels are unsuccessful in achieving effective cost

control. 31% of the sample hotels are controlling their cost very effectively, while 15%

are doing effectively.

7. 21% of the sample hotels of the domestic chains control their operating cost very

effectively, while 16% hotels control it effectively, and 63% of hotels are less effective in

controlling their operating cost.

8. 57% of the sample hotels of the international chains control their operating cost very

effectively, while 14% hotels control it effectively, and 29% of hotels are less effective in

controlling their operating cost.

15 www.ssijmar.in

9. Only 33% of the Upper-scale or five star sample hotels prove very effective control of

operating cost, 17% are effective and 50% are less effective in controlling their operating

cost. Thus, the five-star hotels need to work on controlling operating cost.

10. 50% of four star hotels have very effective control while only 8% of hotels are effective

in controlling operating cost, and 42% of the hotels are less effective.

11. In case of three star hotels, none of the sample hotels fall in very effective range of

control on operating cost. Whereas, 25% of hotels are effective and 75% are less effective

in controlling their operating cost.

12. International chain hotels are more successful in controlling their operating cost (71%)

as compared to the domestic chain hotels. Only 37% the domestic chain hotels can

control operating costs. On the other hand, in case of star rating, 50% of five star hotels

can control operating cost, 58% of four star and 25% of three star hotels are efficient in

controlling operating cost.

13. While studying the second hypothesis, it was found that the 3 star hotels that are

independent hotel have heavy fluctuations in cost structure. This results in high instability

in the business.

14. It was also found that the 3 star hotels do not supervise or control the operational cycle.

15. One of the findings of the research is that the costs impact the economic parameters of

the hotels, majorly the turnover and operating costs. In case of the economical or

budgeted hotels, the fixed cost tends to increase constantly. The tendency for this cost is

to increase year over year as new market trends are introduced, competition increases,

demand from the tourists vary, etc. This indicates that the competitiveness of small hotels

will be negatively affected, which in turn will lead to a situation in which it will be

increasingly difficult for small businesses to sustain.

16. The operational cost is not effectively maintained as there were significant differences

between actual and standard costs amongst all the hotels. The four star rated hotels did

not have a serious problem in controlling their operational cost and could make more

profits by giving more attention to the market demand.Lower ranked hotels appeared to

have cost side problems. Therefore, if they institute more stringent cost control measures

more profits can be realized by these hotels.

16 www.ssijmar.in

Conclusion

The present research is an attempt to analyze the operating cost of the hotels in Pune.

The current research paper traces the origin, growth and current status of the hospitality,

hotel and tourism sectors in India. This brought forward the market condition in the past and

the upcoming opportunities in the future. In keeping with the likely boom in the tourism

sector, the hotel and hospitality industry have bright signs of development. In order to exploit

the growth opportunities, controlling their operational cost has become quintessential to

hotels.

The present research, thus, concludes that the hotels need to control their costs at the

operational stage so as to survive in the market and increase their profit margins. This is

proven and evident from the testing of hypothesis that the samples that control expenses at the

operational stage are doing better in terms of profit as compared to the samples that do not

monitor operational stage. Therefore, the present study highlights the importance of

controlling operation stages in order to increase profit despite of low sales.

Bibliography

1. Abbott, P. et al. (2006), Front office procedure. Social skills yield and management.

Burlington:Butterworth,

2. Aggarwal , D.K. (2006), Housekeeping Management. New Delhi: Aman Publications,

3. Ahuja, H. (2005), Advanced Economic theory: Microeconomic Analysis. New Delhi:

Chand and sons co.

4. Allen David, M., (1983), Accomodation and Cleaning services. Great Britian:

Hutchinson and Co.

17 www.ssijmar.in

5. Andrews, Sudhir. (1987), Hotel housekeeping training manual. New Delhi: Tata

McGraw Hill Publishing co.ltd.

6. Andrews, Sudhir. (2008), Hotel housekeeping management and operations. New

Delhi: Tata McGraw Hill Publishing co.ltd.

7. Andrews, Sudhir. (2009), Hotel housekeeping management. New Delhi: Tata

McGraw Hill Publishing co.ltd.

8. Andrews, Sudhir. (2007), Introduction to Tourism and hospitality industry. New

Delhi: Tata McGraw Hill Publishing co.ltd.

9. Andrews, Sudhir. (2008), Front office management and operations. New Delhi: Tata

McGraw Hill Publishing co.ltd.

10. Andrews, Sudhir. (2009),Hotel front office, A training manual. New Delhi: Tata

McGraw Hill Publishing co.ltd.

11. Bardi, J. Hotel (2012),Front office Management. New Delhi: Willey India.

12. Bhakta, A. (2012), Professional hotel front office management. New Delhi: Tata

Mcgraw Hill.

13. Bhar, B.K. Cost Accounting Methods and Problems. (2004), Kolkata: Academic

Publishers.

14. Bhatnagar, S. (2008), Front office management. New Delhi: Frank Bros and Co.

15. Bhattacharya, D. Management Accounting. (2011) New Delhi: Pearson education

pvt.ltd.

16. Chakraborty, H. (1982), Certificate Accountancy. Calcutta: Oxford University Press.

17. Chandrakanda, K. and Karthikeyan, C. (2004), Behavioural Research methodology.

New Delhi: Classical Publishing.

18. Chaudhary, M. (2010), Tourism Marketing. New Delhi:Oxford University Press.

19. Chunawala, S. (2011), Product Management. Mumbai: Himalaya publishing house.

20. Datt, R. and Sundharam, K.(2004), Indian Economy. New Delhi: S Chand & co.

21. Davis, B. et.al. (2005),Food and Beverage Management. New Delhi: Elsevier India

pvt.ltd.

22. Dhole, V. and Pendnekar, B. (2009), Human Resource Management. Mumbai:

Himalaya publishing house.

18 www.ssijmar.in

23. Dix, Colin and Baird, Chris.(2007), Front office operations. Delhi: Pearson

Education.

24. Dopson, Lea and Hayes, David.(2011), Food and Beverage cost control. New Jersey:

Wiley & sons.

25. D‟unha, Ozi. (1992), Accounting and Cost Control in Hotel and Catering Industry.

Bombay: Dicky‟s Enterprise.

26. Garg, C.(2008), Travel India-A complete guide for tourists. New Delhi: Lotus Press.

27. Gee, Y Chuck. et.al. (1990), Professional Travel Agency Management. USA: Prentice

Hall.

28. Harrington, John. (1981), Hotel Management Accounting and control systems.

London: Northwood Publications.

29. Harworth, E et al. (1970), Hotel Accounting. New York: The Ronald Press co.

30. Ismail, A. (2008),Front office operation and management. New Delhi: Engage

learning.

31. Karunakaran, K. (2012), Marketing Management. Mumbai: Himalaya publishing

house.

32. Kotas, R. (1981), Accounting in the hotel and catering industry. Scotland: Thomson

Litho.

33. Kotas, R. and Davis, B. (1981), Food And Beverage Control. Glasgow: International

text book co.ltd.

34. Kotibhaskar, J. and Sharangpani, R. (1986), Accountancy theory and Practice. Pune:

NarendraPrakashan.

35. Lal, J.(1985), Cost Accounting. New Delhi: Tata McGraw Hill.

36. Linsley, T. et. al. (1996),Front office Management and operation. New Jersey:

Prentice Hall Inc.

37. Miller, J. et. al.(2005), Food and Beverage Cost control. New Jersey: Wiley and

Sons, Inc.

38. Mishra and Puri. (2004), Economics for management. Mumbai: Himalaya Publishing

House.

19 www.ssijmar.in

39. Pearce, D. (1992), Tourist Organizations. Hong Kong: Longman Group.

40. Raghubalan, G. and Raghubalan, S. (2007) Hotel housekeeping operations. New

Delhi: Oxford University Press.

41. Rajasekaran, V. and Lalitha, R. (2011), Cost Accounting. Delhi: Pearson Education.

42. Ramalingam, M. et.al. (2008), Management Control Systems: An integrated approach

to performance and compliance. Hyderabad: ICMR.

43. Rawat, G.S. Elements of hotel Accountancy. New Delhi: Aman Publications, 1994

44. Reddy, R. and Chary, N.(2005), Managerial Economics and Financial analysis. New

Delhi: Scitech Publications.

45. Ritchie, W Brent and Adair, Daryl. (2006),Aspects of tourism. Sports tourism-

interrelationships, impacts and issues. New Delhi: Raj Press.

46. Sethi, Praveen. (2000), Business Tourism. Delhi: G.K. Fine arts Press.

47. Sharma, R.K. (1992), Management Accountancy in Hotel industry in India. New

Delhi: Kanishka Publishing House.

48. Sharma, R (ed) Hotel Business Review. Mumbai: Hammer Publisher, July-Aug‟07,

Vol. 3, 4.

49. Singh, R. (2007), Dynamics of Historical cultural and Heritage tourism. Delhi: Nice

Printing Press.

50. Sivayya, K. et.al. (2000), Business Economics. New Delhi: Discovery Publishing

House.

51. Smith, L.(1991), Tourism analysis- A handbook. Singapore: Longman Publishers.

52. Vallen, G. and Vallen, J. (2009), Check-in check-out managing hotel operation.

Delhi: Pearson.

53. Vechalekar, N. (2012), Financial Management. Pune: NiraliPrakashan,

54. Walter, P. (1983), Modern Financial Accountancy in the Hospitality industry.

Sydney: Hutchinson Publications.

55. Weinstein, J (ed) (Dec. 2008,)Hotels: the magazine of the worldwide hotel industry.

Illinois : Vol. 42, 12.

56. Wrisley, A.(2011), Food Cost control for hotels: Current state and need of the

industry. New Jersey: Wiley & sons.

20 www.ssijmar.in

57. The Indian Hotels Company Limited, 110th Annual Report.

58. ITC Limited, 100th Annual report and accounts.

59. HVS International –Indian Hotel Industry Survey reports. FHRAI India.